State-run Bases Conversion and Development Authority (BCDA) has signed a P5.1-billion agreement with South Korea’s Korea Real Estate Investment & Trust (KOREIT) Asset Management and Sky Blue New Clark City Golf & Resort Corp. to develop a premium golf course and residential villa estate in New Clark City.
The deal highlights the growing interest of international institutional investors in New Clark City’s long-term development, according to BCDA president and chief executive Joshua Bingcang.
Under the agreement, KOREIT’s Philippine subsidiaries Eagle-K GC Corp. and Eagle-K RV Corp. will fully develop and manage the 150-hectare estate. The project is expected to create around 1,200 jobs and stimulate economic activity in Tarlac and the surrounding areas.
“KOREIT’s entry shows the level of confidence that major global investors place in New Clark City,” said Bingcang, noting that the partnership strengthens BCDA’s investment pipeline.
He said the project supports regional growth and is another step in making New Clark City a world-class, sustainable district in Tarlac province.
The development allocates 77 hectares for an 18-hole championship golf course and clubhouse, 52 hectares for an additional 9-hole course and the remaining land for residential villas and amenities. Commercial operations of the golf course are targeted by the first quarter of 2026.
The P5.1-billion investment is anticipated to support tourism, local enterprises and employment, while positioning New Clark City as an emerging sports and lifestyle hub for both domestic and international visitors.
 finalizes a P5.1 billion agreement with South Korea's KOREIT to develop a 150-hectare premium golf course and residential estate in New Clark City, signaling strong international investor confidence.){kind=link}